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We are here for you to provide the important Recent and Latest Current Affairs June 1 2026, which have unique updates of Latest Current Affairs 2026 events from all newspapers such as The Hindu, The Economic Times, PIB, Times of India, PTI, Indian Express, Business Standard and all Government official websites.

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NATIONAL AFFAIRS

Union Minister Dr. Jitendra Singh inaugurates India’s first ‘SkyCast‘ System at IGI Airport, New Delhi
In May 2026, Union Minister of State (MoS) Independent Charge (IC) Dr. Jitendra Singh, Ministry of Earth Sciences (MoES) and Ministry of Science and Technology (MoS&T), inaugurated India’s first ‘SkyCast System’, a weather aviation monitoring system, at Indira Gandhi International (IGI) Airport, New Delhi, Delhi,

• The system, developed under ‘Mission Mausam’, marks India as the 19th country globally to deploy an integrated aviation weather monitoring system.

About SkyCast Aviation Weather Monitoring System:
Objective: To enhance aviation safety and reduce fog-related disruptions through real-time weather monitoring and up to 3-hour advance alerts.
Technology: It integrates Radar Wind Profiler (RWP), Sonic Detection and Ranging (SODAR), Microwave Radiometer, Ground-based Fog Aerosol Spectrometer (GFAS), CL61 Lidar-based Ceilometer, and Automated Weather Stations (AWS) to monitor wind up to 3 kilometer (km) altitude.
Support: The system is supported by MoES, India Meteorological Department (IMD), under MoES, Indian Institute of Tropical Meteorology (IITM), Pune, Maharashtra, Delhi International Airport Limited (DIAL), and GMR Group.

NITI Aayog Releases ‘Future of India’s Semiconductor Industry’ Roadmap
In May 2026, the National Institution for Transforming India (NITI) Aayog’s Frontier Tech Hub released India’s first comprehensive 10-year roadmap titled ‘Future of India’s Semiconductor Industry’, outlining a long-term vision to strengthen India’s position in the global semiconductor value chain.

• The roadmap was unveiled by Union Minister Nirmala Sitharaman,  Minister of Finance(MoF) and Ministry of Corporate Affairs(MCA), and Union Minister Ashwini Vaishnaw, Ministry of Railways(MoR), Ministry of Information & Broadcasting(MIB) and Ministry of Electronics & Information Technology(MeitY).

Key Highlights of Roadmap:
Objective: The initiative aims to transform India from one of the world’s largest consumers of semiconductor products into a globally recognized leader in semiconductor manufacturing, chip design, advanced packaging, testing, and innovation.
Vision: The roadmap lays out a clear and actionable vision for India to build a USD 120-150 Billion (Bn) semiconductor value chain by 2035.
Growth Targets: The report projects India could capture 10-13% of the global semiconductor market by 2035.
Strategy Focus: It advocates a distinct ‘More-than-Moore’ strategy, focusing on building deep manufacturing strength in mature logic nodes, advancing Outsourced Semiconductor Assembly and Test (OSAT) packaging, and developing specialised wide-bandgap compound materials for next-generation semiconductor applications.
Imports Outlook: India imported nearly USD 150 billion worth of semiconductor products during Financial Year (FY) 2017–FY 2025. If current trends continue, annual imports could rise to around USD 240 billion by 2035, indicating increasing demand and import dependence in the sector.

MCA Expands Schedule VII and Amends CSR Rules to Enable Subscription to ZCZP Instruments
In May 2026, the Ministry of Corporate Affairs (MCA) expanded Schedule VII of the Companies Act, 2013 by including subscription to Zero Coupon Zero Principal (ZCZP) Instruments listed on Social Stock Exchanges (SSEs) as an eligible Corporate Social Responsibility (CSR) activity and notified the Companies (CSR Policy) Amendment Rules, 2026, which came into effect on 27 May 2026.

• To facilitate its implementation, the Companies (CSR Policy) Rules, 2014 were amended by revising Rule 2 to define Not-for-Profit Organizations (NPOs) and ZCZP instruments, and by inserting Rule 4A to prescribe the eligibility criteria for undertaking CSR through such instruments.

About CSR through ZCZP Instruments & SSE Reform:
Objective: The reform enables eligible NPOs to raise funds for public welfare projects through a transparent and regulated mechanism while allowing companies to meet CSR obligations through subscription to ZCZP Instruments.
Framework: CSR is governed under Section 135 of the Companies Act, 2013, with Schedule VII prescribing eligible CSR activities aligned with national development priorities.
Compliance: CSR expenditure through ZCZP Instruments is capped at 10% of a company’s total annual CSR spending, while responsibility for project execution and evaluation remains with the issuing NPO under Rule 4A.

DFS Launches ‘Common Landing Portal’ for Unclaimed Financial Assets
In May 2026, the Department of Financial Services (DFS), Ministry of Finance (MoF), launched the Common Landing Portal for Unclaimed Financial Assets to facilitate easier access to information relating to unclaimed financial assets.

• The portal was officially launched by M. Nagaraju, Secretary, DFS during a high-level review meeting of Public Sector Banks (PSBs), held in New Delhi, Delhi.

About Common Landing Portal:
Objective: Developed in collaboration with PSB Alliance, the initiative aims to facilitate easier access to information related to unclaimed financial assets, improving transparency and citizen convenience in the banking system.
Categories: The portal enables users to search across multiple unclaimed financial asset categories, including bank deposits, insurance claims, shares and dividends, and mutual fund investments.
Awareness Initiative: The initiative builds upon the nationwide campaign “आपकी पूँजी, आपका अधिकार (Your Money, Your Right)”, launched by the DFS in coordination with financial sector regulators, banks, and other stakeholders, aimed at enhancing awareness, enabling tracing, and ensuring restitution of unclaimed financial assets to rightful owners.
Alignment: This initiative aligns with Viksit Bharat 2047 and promotes financial inclusion, public awareness, and easier access to financial information.

Odisha, Intel and 3DGS Sign Agreement to Bring Substrate Manufacturing Technology to India
In May 2026, Odisha signed a Memorandum of Understanding (MoU) with Intel Corporation and 3D Glass Solutions Incorporation (3DGS Inc.), United States of America (USA) to establish a USD 3.3 billion(more than Rs 31,600 crore) Advanced Packaging Glass Core Substrate Manufacturing Facility in Bhubaneswar–Khurda region, Odisha, marking one of India’s largest high-technology manufacturing investments.

• The MoU was signed in the presence of Union Minister Ashwini Vaishnaw, Ministry of Electronics and Information Technology (MeitY), Mohan Charan Majhi, Chief Minister (CM), Odisha, and Lip-Bu Tan, Chief Executive Officer (CEO), Intel.

Key Details of MoU:
Implementation: The project will be implemented in phases over 5–6 years.
Focus: The facility will focus on advanced packaging glass-core substrates, high-density interconnect substrates, and semiconductor technologies, with Intel providing technology and process expertise.
Significance: The initiative builds on the India Semiconductor Mission(ISM) to strengthen domestic manufacturing, design ecosystem, and supply chain capabilities.
Impact: The project will position Odisha as a global semiconductor hub while generating high-skilled and indirect employment, and strengthening India’s semiconductor manufacturing ecosystem and export capabilities.

BANKING & FINANCE

SEBI’s NISM Partners with Galgotias University to Expand Industry-Aligned Financial Education
In May 2026, the National Institute of Securities Markets (NISM), an educational and capacity-building institution established by (SEBI), entered into a strategic partnership with Galgotias University, Uttar Pradesh(UP) to bolster professional learning opportunities in securities markets, financial services, derivatives, fintech and risk management.
Key Details of Partnership:
Significance: Through industry-linked programmes, startup engagement and applied training initiatives, the university is expected to strengthen its business entrepreneurship, and fintech-oriented academic ecosystem.
Real-time Financial Situations: The University’s School of Business and the Centre for Capital Market Simulation  provides exposure to real-time market scenarios to students through the centre’s SMART Lab, where students engage with capital market concepts, trading environments, and simulation-based financial learning on the NSMART platform.
Key Benefits: The newly strategic partnership will enable the students to access NISM certifications, e-learning modules, certification-linked learning pathways, and academic support in areas like: securities market, mutual funds, equity derivatives, portfolio management, among others.
Resource Support : As per the collaboration, NISM will facilitate e-learning programs, faculty development modules, assessment support, and expert engagement sessions to participating students and faculty.

Bajaj Finserv Partners with IIT-B to Launch ‘Finserv Intelligence’ for AI & Deep-Tech Research
In May 2026, Bajaj Finserv Limited (BFS), one of largest and most diversified financial services companies in India, in partnership with Indian Institute of Technology, Bombay (IIT-B), Mumbai, Maharashtra, announced the launch of ‘Bajaj Finserv Intelligence’.

• This new initiative is designed to support India’s research and innovation in Artificial Intelligence (AI) and deep-technology.

About Finserv Intelligence:
Investment Plans: Finserv Intelligence, designed as a strategic initiative, with a 5 to 10 year horizon will bring  investments  in and develop next-generation technologies.

• It  has committed  to invest Rs 1,500 to Rs 2,000 crore over 5 years in AI innovation startups.

MoU with IIT-B: The newly launched Finserv Intelligence and IIT-B signed a Memorandum of Understanding (MoU) and Master Collaboration Agreement to set up a joint research centre and outline joint projects focusing on AI,  cybersecurity, quantum technologies, and retail experience and innovations.
Key Areas of Expansion: Other than financial services, the newly formed Finserve Intelligence is expected to cover areas like: digital financial inclusion, health technology, preventive healthcare, and climate solutions.

AWARDS & RECOGNITIONS

TN Farmer Valluvan Honoured as ‘FAO Soil Farmer Hero’ for Sustainable Agriculture Practices
In May 2026, Valluvan, a coconut farmer from Pollachi district, Tamil Nadu (TN), was honoured as United Nations (UN) Food and Agriculture Organisation (FAO) ‘Soil Farmer Hero’.

• He received the award for transforming his 11 hectare (ha) holding into a Rs 2.5 to 3 lakh per acre enterprise through multi-crop, tree-based farming.

Key Accomplishments:
Supported by: Isha Foundation’s ‘The Save Soil-Cauvery Calling programme’, promoted by spiritual leader Sadhguru Jaggi Vasudev, guided him to adopt multi-crop, multi-tier tree based agriculture practices.
Crops Diversification: Valluvan now cultivates from existing 3 crop varieties to over 14 types from: coconut, nutmeg, pepper, seven banana varieties, turmeric, elephant yam, curry leaves, and 30 tree varieties.

APPOINTMENTS & RESIGNATIONS

Defence Secretary Rajesh Kumar Singh Assigned Additional Charge as DRDO Chairman, Defence R&D Secretary
In May 2026, Rajesh Kumar Singh, Defence Secretary, Ministry of Defence (MoD) was assigned the additional charge of Secretary, Department of Defence Research and Development (DDR&D) and Chairman of the Defence Research and Development Organisation (DRDO), in addition to his existing responsibilities in the MoD.

• Rajesh Kumar Singh assumed additional responsibilities on May 31, 2026, following the completion of Dr. Samir V. Kamat’s tenure.

About Rajesh Kumar Singh:
Profile: He is a 1989-batch Indian Administrative Service (IAS) officer of the Kerala cadre.
Secretary Roles: He served as Officer on Special Duty (Defence Secretary-designate) on August 20, 2024, before formally taking over as Defence Secretary.

• Prior to this, he served as Secretary, Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce and Industry(MoC&I) from April 24, 2023, to August 20, 2024.
• He has also served as Secretary in the Department of Animal Husbandry and Dairying under the Ministry of Fisheries, Animal Husbandry and Dairying(MoFAHD).

OBITUARY

Senior Congress Leader and Former Kerala MP, K. P. Dhanapalan Passed  Away 
On 30 May 2026, senior Congress leader and former Member of Parliament (MP) K.P. Dhanapalan passed away at the age of 76 in Paravur, Ernakulam district, Kerala.

• He was born on 14 April 1950 in Ernakulam, Travancore-Cochin (present-day Kerala).

About K. P. Dhanapalan: 
Early Life:  He began his public life through student politics with the Kerala Students Union (KSU) and gradually rose through the ranks of the Congress party to become a prominent leader in central Kerala.
Political Career:  He entered electoral politics as a North Paravur Municipal Councillor in 1979 and went on to become a prominent Congress leader in Kerala.

• He served as President of the Ernakulam District Congress Committee (DCC) and held key positions in the Kerala Pradesh Congress Committee (KPCC). He was also a Member of the All India Congress Committee (AICC).

Parliamentary Career: He was elected to the 15th Lok Sabha from Chalakudy in 2009 and served as MP until 2014.  

• He served as the Chairman of Milma and contributed significantly to local governance and regional banking.

BOOKS & AUTHORS

Union Minister Rajnath Singh Releases Commemorative Volume on Operation Sindoor
In May 2026, Union Minister Rajnath Singh, Ministry of Defence(MoD), released a commemorative volume titled “Operation Sindoor”, documenting the experiences and testimonies of 100 personnel from the Indian Armed Forces who participated in the operation, during a ceremonial event held in New Delhi, Delhi.

• The event was attended by Chief of Defence Staff (CDS) General Anil Chauhan, Chief of the Army Staff (COAS) General Upendra Dwivedi, Chief of the Naval Staff (CNS) Admiral Dinesh K. Tripathi, and Chief of the Air Staff (CAS) Air Chief Marshal A. P. Singh.

About Commemorative Volume:
Testimonies:  The volume presents first-hand accounts from Army, Navy, Air Force, and integrated defence personnel involved in Operation Sindoor, offering insights into modern joint warfare operations.
Compilation:  The commemorative volume was compiled under the guidance of Chief of Defence Staff (CDS) General Anil Chauhan.

• Contributions were coordinated by defence communication agencies, while publication support was provided by the United Service Institution of India (USI). 

Operation Sindoor:  Operation Sindoor, launched on 7 May 2025 following the Pahalgam terror attack, targeted terror infrastructure and showcased India’s integrated multi-domain warfare capabilities.

IMPORTANT DAYS

International Week of Solidarity with the Peoples of Non-Self-Governing Territories 2026 – 25 to 31 May
The United Nations (UN)’s International Week of Solidarity with the Peoples of Non-Self-Governing Territories (NSGTs) is observed annually from 25–31 May to reaffirm the right to self-determination and independence, while promoting decolonization, human rights, and sustainable development.
Background:
Resolution: The United Nations General Assembly (UNGA) adopted Resolution A/RES/54/91 titled “Implementation of the Declaration on the Granting of Independence to Colonial Countries and Peoples” in December 1999, calling for the annual observance of the Week of Solidarity with the Peoples of Non-Self-Governing Territories starting from 25 May.
First Obeservance: The first International Week of Solidarity with the People of Non-Self Governing Territories was observed from 25 to 31 May 2000.

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